This month national self-storage operator U-Store-It Trust bought a 5,744-square-foot home in Germantown, Tenn., for $985,000. The five-bedroom home on .65 acres was built in 2007. The Shelby County Assessor appraised the property at $1 million.
In addition, U-Store-It quitclaimed its self-storage property at 9275 Macon Road in Shelby County to its trust division. U-Store-It bought the property in 2006 for $4 million from Macon Road Partnership. Operating the new transaction as YSI XXX LLC, it filed a $2.6 million loan on the facility through First Capital Bank. Built in 1994, the multi-building, 66,643-square-foot storage facility sits on 7.6 acres. The county assessor’s appraisal is $3.1 million. The transaction also included an assignment of leases, rents and income.
Source: The Memphis Daily News, U Store It Buys Germantown Home
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